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Chief Actuary

Company: ING Financial Services

Location: West Chester, PA

Description:
Job Title Chief Actuary Requisition # 15899BR Business Unit USFS Job Family Actuarial Position Location West Chester - PA Department Name Legacy Annuity No. of Openings 1 Full-Time or Part-Time Full-Time Relocation Assistance Offered? Yes Salary Commensurate with experience What is ING? ING Insurance Americas is a vital part of worldwide ING Group, one of the largest diversified financial services organizations in the world with operations in more than 50 countries and 112, 000 employees. We're a leading provider of financial products and services for individuals and businesses, including life insurance, annuities, mutual funds, retirement plans and employee benefits. ING recognizes the critical role our employees play in our success as a company... we understand the link between customer satisfaction and employee satisfaction. As a result, we're building a different work experience for our employees, an experience that appeals to what they value most in a work relationship. What are the job responsibilities? Lead the Legacy Annuity risk management and actuarial functions to maximize potential and profitability of the business. Oversee all risk management and actuarial activities including capital management; asset liability management including hedging for VA guaranteed benefits; valuation; investment strategy; finance actuarial activities including deferral and amortization of acquisition costs; valuation of embedded derivatives; and valuation of new sales and the business in-force. . With the CEO, provide the tone for management to foster ethical and responsible decision making, appropriate management and superior governance practices. . Activity contribute to all operational and strategic decisions . Work with the product development team to identify, measure and mitigate all risks of new products and ensure products launched comply with all ING standards . Work with the product development team to recommend to senior management and US IRM appropriate risk mitigation strategies for all products . Oversee development, implementation and control of hedging programs that meet agreed upon objectives . Deliver, in conjunction with ING Investment Management, an optimal investment strategy for the annuity general account asset portfolios . Optimize the level of capital (all measures) by considering risk, return, product mix, level of sales and objectives of ING Group . Implement and optimize economic capital, rating agency capital and reserve requirements across IFRS, US GAAP and Statutory accounting basis . Oversee monthly production of the Actuarial Finance team's contribution to earnings, e. g. , production of estimated gross profit calculations, DAC and earnings attribution and analysis . Oversee the development of value of new business, value of in-force and such other value based metrics as required by senior management, and ING Group. Lead efforts to implement new ING Market Consistent Embedded Value direction . Oversee the development and maintenance of all financial projection models . Represent actuarial and risk organization to key internal and external constituents, including rating agencies, external auditors and regulators Who is our ideal candidate? 15+ years experience in actuarial, risk and financial management, with strong background in fixed and variable annuities. Ideal candidate would be previous Chief Actuary or similar role with broad, seasoned risk management background in a number of areas . FSA, CFA or equivalent academic risk management competence . Strong background in insurance pricing, capital, profitability, valuation, modeling . Strong grasp of ALM and risk management skills, including capital markets and hedging strategies . Demonstrated strong leadership skills, with ability to attract and retain world class risk management team, possess strong communication skills, and balance big picture skills with occasional hands on capabilities on challenging technical issues . Ability to identify and implement processes and system improvements What else can we tell you? The West Chester site offers free

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